Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1887-07-30


! 10. Whether the proceeds of any trust fund,
or lands loaned. advanced or granted have beer
diverted from their lawful use
! Answer-Ho proceeds of any trust funds, O.
lands loaned, advanced or granted have been
diverted from their lawful uses.
To- Whether any new stock or bonds have
been issued, or any guarantees or pledge:
made contrary to or without authority of the
law.
Answer-No new stock or bonds have beer
issued, or any guarantees or pledges made con
trary to or without authority of law.
| IL. Whether any of the Directors officers Oh
! employees of said companies, respectively, have
been or are now directly or indirectly interested
and to what extent. in any other railroad
steamship. telegraph, express mining con.
struction or other business. Company or corpora
ton, and with which any agreements, under
/, takings or leases have been made or entered
/ into.
| Answer-I am now interested in the follow
ing-named companies: California Pacific Rail
road, "a, 755 shares; Southern Pacific of Califor
M MA a ~ 56l 40 southern Pacific OF Arizona
/ 1922 30; Southern Pacific of New Mexico TO-
us, $40; Southern Pacific of Kentucky $780,
20 4-l0 stockton and Copperopols Railroad
! 80; Berkeley Branch Railroay, 23l: Amado-
+, Branch Railroad, 1850; Los Angeles and Sa1
Diego, so; California and Oregon-do not re
member the number of shares; San JOAQUIN
| Railroad-do not remember the number o.
| shares: San Francisco, Oakland and Alameda
! do not remember the number of shares West
! ern Pacific Railroads.&c. net remember; Con
4 tract and Finance Company, had Il, 500 share.
i when 1t disincorporated; Wells, Fargo & Co., 81
1 shares; Occidental and Oriental Steamship Com
] pany, $3.50 snares: Western Development Com
pany 10000 shares; Pacific improvement Com
pany, 12.500 shares; lone Coal and Iron Com
! pany, 5000 Shares Rocky Mountain Coal anC
| Iron Company 1877 shares; Carbon Hill Goa
| Company have an interest in this company
is. What amounts of money or credit have
been or are now loaned by any OF said com
panles TO any person or corporation?
| Answer-Ihe amount loaned any company
corporation or individual on June 80, 1887 is a.
follows: stockton and Copperopolis Company
B. T. Smith, 100000: p. II. Edmondson, s.. 900
! ]. W. Young S35 O65 "a; Coos BAY Coal Com
| pany, S4,04S So Total, S264, 1850 e.
10. What amounts of money or credit have
been or arc now borrowed by any of said com
panies, giving names of lenders and the pur
| poses for which said sums have been or are now
| required?
Answer-Total amount of money borrowed b,
the company on June 80, 1887, was s., SIC, 7l9 ST
| 20. What amounts of money or other valuable
| consideration, such as stocks, bonds passes and
| so forth, have been expended or paid out BY
| said companies whether for lawful or unlawful
| purposes but for which sufficient and detailed
vouchers have not been given or filed with the
| records OF said companies
Answer-All items of expenditure for which
| detailed vouchers are not on file have from
time to time, been appraised by the director.
and stockholders of the company.
| No reduction will be made from that portion
| OF the net earnings belonging to the United
States on account of any expenditure for which
detailed and satisfactory vouchers are not fur.
nished.
u. And further to inquire and report whether
said companies or either of them, or their off.
GERS or agents, have paid any money or other
valuable consideration. or done any other act
or thing, for the purpose of influencing legisla-
ton.
Answer-I do not consider the Government
has any right to ask the above question.
y. And TO investigate and report all the facts
relating TO the alleged consolidation of the
Union Pacific Railroad no
Pacific Railway Company. and the Denver Pa
cific Railway and Telegraph Company, into an
alleged corporation known as the Union Pacific
Railway company. Said investigation shall in
clude the alleged sale of the stock of the KAN
sas Pacific Railroad Company to the Union Pa
ciiic Railroad Company, and all the circum-
stances and particulars pertaining to said al
legged sale.
Answer-This question relates to other corpo-
rations and requires no answer
%. And whether any of the Pacific railroad
corporations which obtained bonds from the
United States to aid in the construction of their
railroads have expended any of their moneys
or other assets i'll the construction or to aid in
the construction OF other railroads, or invested
of their moneys or other assets in the stocks or
bonds of any manufacturing. mining and COM
merelal companies or corporations, or of other
railroad corporations.
AnSwer-No money has been expended in the
construction of other roads.
"a. And If any such expenditure or invest
mentS have been made, the extent and char
shall be inquired into
Answer-A detailed statement is here given.
showing the extent of such expenditures.
%. And also the present interest of any oil
said corporations in the railroads auxiliary 10
| their respective railroads.
Answer-This company has no interest in the
| railroads auxiliary to its lines. and never hs
had, except through consolidation and leases.
26. And said Commission shall also ascertain
and report the names of all stockholders in each
| OF the said companies, from its organization to
dofA AFt
| for. as they appear on the books of the said
companies at the date of its annual meeting in
each year, and the amount OF stock held by
each.
Answer-The accountants of the Commission
| have the books containing the information in
4 their possession,
%. What consideration, if any, was paid by
each stockholder to said company for his stock
| and when and in what property such paymen,
was made?
Answer. : The statement prepared by Mr.
Miller fully answers this question
| Is. The date when each stockholders so appear
| ing on the books became such
Answer-This question has been fully an
swered in the answer to question p.
%. And whetherstock is now held or has here
| tofore been held in the name of any person in
| trust or for the benefit of any other, and the
| names of all such persons
Answer am unable to state what stock ha.
been held in trust, but the books will show it.
/ 30. The total amount of the stock in such
company.
| Answer-The total amount of stock in the
Central Pacific Railroad Company is 500 OOO, 900
| of which SOS, 600, 900 has been issued
81. And the dates and amounts of any in
crease of such stock. and the reasons for such
increase.
| Answer-The Organization .of the Central
Pacific of California provided for IS, 500, 900 Of
| stock. 1t was soon ascertained that the road
| would cost more than that. Then upon the esti.
to s2O,0oOi00o, the principal reason being
| that under the laws of California
the bonded Indebtedness could not
| exceed that of the capital stock Afterwarl by
| the Act of Congress of July 8, 1866, il was pro
vided: That the Central Pacific might build
| east until 1t should meet the Union Pacific, and
not knowing where that might be the capital
| stock was again increased to 500 100000.
81. Ard to the amount of the annual salaries
or compensation that are now or at any prior
| time have been paid to any officer or employe
| of said company, when such salary or conpen-
sation amounts to s. 900 or more per annum
! Answer-In reply to this interrogatory, l SUBJ
nit a tabulated statement of annual salaries
amounting to So 600 or more paid by the Cen,
| trail Pacific Railroad Company since its organi-
cation to any officer or employe, and all bonuses
or donations which have been given or paid to
any such officer.
| So And the names of the persons now receiv-
| ing or who have heretofore received such sala-
| ries or compen sation.
| Answer-This interrogatory will be found
| fully ans Yered in the preceding question.
81. And all the bonuses or donations which
may have been given or paid to any such person.
Answer--No bonuses or donations have been
| given or paid to any person except such as are
stated in answer TO question 81
49, and all payments made under the head
of legal expenses.
Answer-The expert of the Commission, Mr..
Stevens has been given the books of the com
pany, and he viii prepare an answer to this
interrogatory.
Sc Said Commission shall also inquire into
and report upon the relations of said railroads
to the interests of the communities through
which they pass
Answer-The relations of the Central Pacific
Railroad to the communities through which
It passes is most intimate and important-one
is indispensable to the other.
OPINIONS OF PROMINENT CITIZENS.
Following this answer were appended state
ments on the railroad question made by a num-
Der of prominent citizens. Fleet +. strother,
Auditor of this city and county, said THE de-
yelopment of the State, which set in imme-
diately after the connection of the two lines of
road was phenomenal. The people then saw
for the first time that there was something else
to California besides hides. wool and wheat.
Here was market for their fruits and wines,
and what WAS then an almost unknown indus
try began to expand, until to-day it leads all
I - II